Data: A trader invested 2.36 million dollars to buy 660 BTC, 120,000 call options and 80,000 put options

According to on-chain analyst @ai 9684xtpa, a trader has made a significant "straddle" options strategy at the Deribit exchange, investing approximately $2.36 million betting that the price of Bitcoin will experience significant volatility by the end of March.

The trader simultaneously purchased 660 BTC call options with a strike price of $120,000 (costing about $860,000) and 660 BTC put options with a strike price of $80,000 (costing about $1.5 million), all set to expire on March 27, 2026. This strategy indicates that the trader expects the BTC price to potentially fluctuate upwards by nearly $28,000 or downwards by $12,000.